Nasal Drug Delivery Technology Market by Dosage Form (Nasal Drops, Sprays, Powder, Gel), System (Multidose, Unit Dose, BI-Dose), Therapeutic Applications (Rhinitis, Congestion, Vaccinations), End User (Hospitals, Homecare) - Global Forecast to 2021
The global nasal drug delivery technology market is projected to reach USD 64.20 billion by 2021 from USD 44.00 billion in 2016, at a CAGR of 6.5% during the forecast period.
Increasing patient preference for nasal drug delivery as a result of easy administration & better efficacy and growing self-administration practices among the patients are the factors driving the growth of this market. Whereas, growth among over-the-counter nasal drugs and increasing focus on alternative routes of drug delivery such as nasal drug delivery offer significant growth opportunities for players operating in this market. On the other hand, complications associated with the overuse of nasal sprays may restraint the growth of the market.
The nasal drug delivery technology market is segmented based on dosage form, therapeutic application, end user, system, container, and region. On the basis of container, the market is segmented into pressurized and non-pressurized containers. In 2016, the non-pressurized containers segment is expected to account for the largest share of the market. The large share of this segment can primarily be attributed to advantages such as better versatility and reliability, instant availability, self-containment, better portability, and low-cost medical aerosol delivery. In addition, the increasing usage of these devices for the treatment of asthma and chronic obstructive pulmonary disease (COPD) is expected to further drive the growth of this market in the coming years.
On the basis of end user, the market is segmented into hospitals and home care settings. In 2016, the home care settings segment is expected to account for the largest share of the market, primarily due to the increasing preference for self-administration among patients.
Asia is expected to be fastest-growing region in the nasal drug delivery technology market from 2016 to 2021. Opportunities in the Asian market have attracted huge investments by major companies in the area of R&D activities. In addition, the region has low costs of labor and clinical trials, which has further served to draw market players to Asia.
Prominent players in the nasal drug delivery technology market include Merck & Co., Inc. (U.S.), Novartis AG (Switzerland), Johnson & Johnson Services, Inc. (U.S.), Pfizer, Inc. (U.S.), AstraZeneca plc. (U.S.), AptarGroup (U.S.), and GlaxoSmithKline plc (U.K.).
The report defines, describes, and forecast the nasal drug delivery technology market on the basis of dosage form, therapeutic application, end user, system, container, and region. It provides detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, challenges). The study tracks and analyzes competitive developments such as joint ventures, mergers and acquisitions, new product developments, and expansions in the nasal drug delivery technology market across to four main regions, namely, North America, Asia, Europe, and the Rest of the World (RoW).
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The report on the nasal drug delivery technology market provides quantitative information for clients seeking market size information on various segments of this market. This report also provides access to the quantitative data on the nasal drug delivery technology market. This report covers –
• Current and forecast assessment of the nasal drug delivery technology market.
• Country-wise assessment of each of the segments
• Global market share analysis for major segments of the nasal drug delivery technology market
• Adoption trends of various nasal drug delivery technologies for major geographic markets
• Five-year coverage of strategic developments of top players in the nasal drug delivery technology market
• Product Portfolio mapping of leading players in the nasal drug delivery technology market